Q: Good morning. Thoughts on today’s earnings? You have long been a fan of the company so just checking in to see if this is still the case. Thanks.
5i Research Answer:
We still like it. It is cheap with a secure dividend. EPS of $1.57 beat estimates by 2%. The DentalQuest acquisition helped US profit rise 57%. The Global Asset division struggled a bit, with $5.3B in outflows. But Asia saw 27% growth, with higher insurance premiums and strong sales in Hong Kong, China and India. SLF also announced a share buyback and we remain very comfortable here.